US sues to block $20bn AB Inbev takeover of Mexico’s Modelo January 31, 2013 THE US government yesterday filed a lawsuit in a bid to stop Anheuser-Busch InBev (AB InBev) from buying the half of Mexican brewer Grupo Modelo that it does not already own, saying the $20.1bn deal could mean higher US beer prices. AB InBev said it will fight back in federal court, calling the Justice Department’s [...]
…as ex-takeover boss joins ABI July 17, 2012 ROBERT Hingley, a former director general of the City’s Takeover Panel, was yesterday appointed to the Association of British Insurers to be its new director of investment affairs. Hingley, whose stay at the Takeover Panel was prolonged when his successor got caught up in a conflict of interest over the Cadbury/Kraft takeover, has had 30 [...]
EasyJet bats away latest Stelios issues with investors’ blessing February 10, 2013 EASYJET shareholder Sir Stelios Haji-Ioannou has published a fresh list of complaints about the budget airline, but investor bodies the Association of British Insurers (ABI) and ISS have given the firm’s proposals the thumbs up. Sir Stelios yesterday repeated his call for EasyJet chairman Sir Mike Rake to resign before his planned departure date in [...]
Vodafone pay package backed by ABI with blue top approval July 5, 2012 VODAFONE’S pay package was yesterday classed an inoffensive “blue top” by the ABI, which recommended shareholders vote in favour of the remuneration report. Vittorio Colao, chief executive of Vodafone, was paid £3m in salary, bonus and benefit payments in 2011, a year in which Vodafone dished out a hefty £10.2bn to its investors and became [...]
Lobby groups threaten revolt over pay at Imperial Tobacco January 20, 2013 CALLS are growing for shareholders to vote down a generous new pay structure at FTSE 100 giant Imperial Tobacco when investors gather at the firm’s annual meeting at the end of the month. Proxy voting agencies Pirc and Manifest, along with insurers’ trade body the Association of British Insurance, are understood to be threatening a [...]
Insurance group reassures flood talks ongoing November 25, 2012 THE Association of British Insurers (ABI) last night insisted that talks with the government to secure affordable flood insurance for thousands of homes were still ongoing as the rain continued to wreak havoc across the UK. City A.M. reported last week that the recent government reshuffle had delayed talks to replace the current subsidy deal, [...]
Government slammed over flood insurance November 26, 2012 HEAVY rain continued to bring misery to swathes of the UK last night – as the government locked horns with the insurance industry over the future of domestic flood cover. A week of poor weather has closed dozens of major roads, while some rail links are out of action and hundreds of homes have been affected. [...]
What the other papers say this Morning December 11, 2012 FINANCIAL TIMES Call for cleaner succession strategies Companies must improve their succession planning and make sure they have strong candidates ready to take the helm as chief executive, or risk undermining shareholder value and damaging market performance. The Association of British Insurers (ABI), which represents some of the UK’s biggest investors, gave the warning as [...]
New broom Mark Carney has a lot of paperwork to sweep up November 28, 2012 FROM the forthcoming report of the Parliamentary Commission on Banking Standards to a possible resignation letter from Paul Tucker: Mark Carney has an unenviable reading list before he sets foot in Threadneedle Street as the new Governor of the Bank of England. If he wants a genuine cold-towel moment ahead of his arrival, however, he [...]
Reshuffle hits deal on flood cover for 200,000 homes November 12, 2012 EFFORTS to guarantee household insurance for 200,000 homes at high risk of flooding have been hindered by the recent government reshuffle, City A.M. has learned. A leading insurer said the recent reshuffle – which saw environment secretary Caroline Spelman replaced by Owen Paterson – has affected the much-delayed discussions. Members of the Association of British [...]